India, April 9 -- Piramal Alternatives, the fund management division of the Piramal Group, has announced a significant investment of Rs 110 crore in Biodeal Pharmaceuticals, a New Delhi-based contract development and manufacturing company, facilitated through convertible instruments from its Performing Credit Fund.

The funding will be directed towards improving infrastructure and capacities, upgrading technology, and underlay a dedicated nutraceuticals manufacturing facility.

Biodeal is a key player in contract manufacturing, offering a wide range of products. It is among India's leading manufacturer of nasal sprays catering to marquee international and domestic pharmaceutical companies.

Kalpesh Kikani, CEO, Piramal Alternatives said, ...